Increasing Business Efficiency Through Cloud-Based Accounting

In her diploma thesis, the author examined cloud data storage, what the cloud actually is, what its advantages and disadvantages are, what it means for a company, what the security of cloud data storage is like, and who the providers are. Through a survey, she investigated whether companies are familiar with cloud storage and whether they use it. I believe that other companies tend to favour storing data within the company, which was also shown by the survey, and do not even consider cloud data storage. Of particular importance here is also the protection of personal data, which is a very sensitive topic in our country, and such data is safest to keep stored within the company, protected by passwords and keys.

Problem

In her diploma thesis, the author examined cloud data storage, what the cloud actually is, what its advantages and disadvantages are, what it means for a company, what the security of cloud data storage is like, and who the providers are.

Solution and Method

Through a survey, she investigated whether companies are familiar with cloud storage and whether they use it. When researching what the cloud actually is, she came across many unclear definitions and ultimately concluded that cloud storage is the same as server storage, with the only difference being that we do not know where the server is located, and that data is stored on multiple unknown servers around the world; hence the name cloud storage. The history of the cloud dates back to the 1950s and has, like all technology, been rapidly updated over time.

There are several types of clouds, but the most well-known are public clouds, which most people unknowingly use. Through the survey, she found that many people use Gmail, Facebook, Twitter, Dropbox, YouTube, etc., and do not even realise they are using cloud data storage. She also learned about the advantages and disadvantages of cloud data storage.

The greatest advantage is, of course, that we can access data anywhere and do not need our own computer or storage devices such as USB sticks, floppy discs, external drives, etc. Another advantage is that we do not have to store data in multiple locations, as cloud providers take care of this. The biggest disadvantage of cloud data storage is internet access, as without it we cannot access our data. As far as security is concerned, this is a very extensive topic; providers naturally guarantee security, at least physically, as data is stored on multiple servers and loss is practically impossible.

However, other security questions arise: who has access to their data, what about the protection of personal data; what happens to our data if the provider goes out of business; what about deleting their data if we do not even know where it is; how can we transfer data to another provider, and many more such questions to which I did not find answers. Cloud-based accounting is, in her opinion, suitable for smaller companies, particularly those whose accounting is managed by accounting services, as both the entrepreneur and the accounting service can access the data.

Results

I believe that other companies tend to favour storing data within the company, which was also shown by the survey, and do not even consider cloud data storage. Of particular importance here is also the protection of personal data, which is a very sensitive topic in our country, and such data is safest to keep stored within the company, protected by passwords and keys. Costs within the company are indeed higher as a result, but we know where their data is located and can manage it according to our wishes and needs.

There are many cloud data storage providers, offering different services. Prices also vary and depend on the type of cloud we choose. They naturally guarantee us security, good prices, enormous storage space, but in her opinion all this fades when we sign a contract with them.

In the survey, I was primarily interested in whether companies are familiar with cloud data storage, how many companies use cloud storage, and their satisfaction. Only 29% of respondents store data in the cloud, of which only 36% are very satisfied and only 17% trust it completely. Her hypothesis that, in the event of transferring their company's business data to the cloud, accessibility to data would significantly increase, therefore certainly holds true.

This option is very convenient, but they did not convince me regarding security. The hypothesis regarding costs also holds true, as these are indeed lower with cloud storage than if we were to purchase complete equipment. Despite being a smaller company, we manage the accounting ourselves and do not have an accounting service with which we would be connected via the cloud.

They decided to store data on an additional computer and external drive, so that in the future they will continue to store data within the company and not in the cloud, because such storage seems safer and more suitable for their company.